Vietnam’s overseas investment reaches $14b

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petroVietnamese companies have invested a total of $14 billion in 60 countries and territories, the ´country’s Ministry of Planning and Investment said on October 17.

Statistics by the ministry’s Foreign Investment Agency showed that overseas investment by Vietnamese companies is on the rise and mostly focused on the mining, agricultural, telecoms and consumer products sectors.

In 2012, 84 projects with a combined registered capital of $1.4 billion were given the green light while nine others were allowed to increase their investment by $132.25 million, according to the agency.

Some 712 Vietnamese firms have invested in foreign countries, with the Vietnam National Oil and Gas Group (PetroVietnam) being the largest investor. The group has invested $6.5 billion in 18 overseas projects, including Russia, Peru and Venezuela.

Vietnam is also making first moves into new markets in Eastern Europe and Africa. The country’s registered capital for overseas investment is estimated at about $16.6 billion and $4 billion implementation capital. The government has urged Vietnamese investors to put their money into oversea projects which help promote domestic production, services and exports.

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Reading Time: 1 minute

Vietnamese companies have invested a total of $14 billion in 60 countries and territories, the ´country’s Ministry of Planning and Investment said on October 17.

Reading Time: 1 minute

petroVietnamese companies have invested a total of $14 billion in 60 countries and territories, the ´country’s Ministry of Planning and Investment said on October 17.

Statistics by the ministry’s Foreign Investment Agency showed that overseas investment by Vietnamese companies is on the rise and mostly focused on the mining, agricultural, telecoms and consumer products sectors.

In 2012, 84 projects with a combined registered capital of $1.4 billion were given the green light while nine others were allowed to increase their investment by $132.25 million, according to the agency.

Some 712 Vietnamese firms have invested in foreign countries, with the Vietnam National Oil and Gas Group (PetroVietnam) being the largest investor. The group has invested $6.5 billion in 18 overseas projects, including Russia, Peru and Venezuela.

Vietnam is also making first moves into new markets in Eastern Europe and Africa. The country’s registered capital for overseas investment is estimated at about $16.6 billion and $4 billion implementation capital. The government has urged Vietnamese investors to put their money into oversea projects which help promote domestic production, services and exports.

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